Business Basics Grade 7 Quiz

How is a need defined?

• Something that adds pleasure and comfort to our lives but isn't necessary for survival.

• Something that is necessary for survival.

• An intangible activity that someone does for you.

• A tangible item that satisfies consumer wants or needs.

How is a want defined?

• Something that you need for survival.

• People who use goods and services.

• Something that adds pleasure and comfort to our lives but isn't necessary for survival.

• A person who is buying or has just bought, a good or service.

What are the primary characteristics of a good?

• The item is tangible; exclusive and permanent ownership is obtained.

• A good makes you feel good.

• Someone else does something to or for you.

• Ownership is not obtained.

The people who decide to buy.

• Producers
• Consumers
• Economist
• Entreprenuers

Resources that can be replaced

• Renewable resources

• Conservation

• Natural resources

• Non-renewable resources

Resources that cannot be replaced

• Renewable resources

• Conservation

• Natural resources

• Non-renewable resources

What is the best pro about renewable resources? 

• The are inexpensive 
• They are always available
• They are expensive
• They create pollution  

Coal is a __________ energy resource.

• Renewable
• Nonrenewable

Solar Power is a __________ energy resource.

• Renewable
• Nonrenewable

Do renewable energy sources run out?

• Yes 
• No